It is made possible to provide a highly reliable magnetoresistive effect element and magnetic memory that operate with low power consumption and low current writing. The magnetoresistive effect element includes: a magnetization free layer including at least two magnetic layers subject to antiferromagnetic coupling and a non-magnetic layer provided between the magnetic layers; a tunnel barrier layer provided on one surface of the magnetization free layer; a first magnetization pinned layer provided on an opposite surface of the tunnel barrier layer from the magnetization free layer; a non-magnetic metal layer provided on an opposite surface of the magnetization free layer from the tunnel barrier layer; and a second magnetization pinned layer provided on an opposite surface of the non-magnetic metal layer from the magnetization free layer. The first and second magnetization pinned layers are substantially the same in magnetization direction. The non-magnetic metal layer includes Cu, Ag, Au, or an alloy of them. The non-magnetic layer in the magnetization free layer includes Ru, Rh, Ir or an alloy of them.